U.S. Oil Exports Exceeding Expectations

U.S. crude oil exports have exceeded 1.2 million barrels a day, per the Financial Times. That follows the lifting of a 40-year-old ban on crude oil exports in 2015, and far exceeds baseline projections.

… The situation poses a threat to Saudi Arabia and other key OPEC members, which have historically had control over the oil industry and the power to gauge pricing.